Red Entertainment Gains Its Independence
Xbox 360 title in the works? December 5th, 2005 (8:09pm) - Red Entertainment, the Japanese game development studio best known for its work on the Sakura Taisen series in Japan and games like Blood Will Tell and Gungrave: Overdose, has gone through a management buyout which has resulted in the company reclaiming its independent status by purchasing a significant amount of its stock from SEGA. The studios re-acquired 2700 shares of its stock from former parent company on November 30th, accounting for 59.2 per cent of the 4588 shares outstanding for the company. The producer of Sakura Taisen, Hiroi Ouji, had also hinted at the possibility that when the company became independent, it would develop software on Microsoft’s Xbox 360 instead of Sony’s PS3. Red Entertainment also wants to make a move into the online game market in Japan. Red Enetertainment’s merchandising arm (focused mainly on products based on the Sakura Taisen franchise) will continue to function as normal. Red Entertainment has stated that it will maintain strong links with Sega. Reported by David Amirian on December 5th, 2005 (8:09pm) [From: GamesIndustry.biz]
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